When looking at the real estate market data provided, we can see a correlation between several key metrics that can help both buyers and sellers make informed decisions according to my Buda November 2024 Residential Housing Market Update.
First, let’s talk about the Months Supply of Inventory, which is at 3.86. This indicates the number of months it would take to sell all the current homes on the market if no new listings were added. A lower number typically indicates a seller’s market, where demand is high compared to supply.
The 12-Month Change in Months of Inventory at 0% shows that the market has remained relatively stable over the past year, with no significant increase or decrease in inventory levels. This can be reassuring for both buyers and sellers as it suggests a balanced market.
The Median Days Homes are On the Market at 71 days gives an idea of how quickly homes are selling in the current market. A lower number indicates a fast-moving market, while a higher number may suggest properties are sitting on the market longer.
The List to Sold Price Percentage of 97.6% indicates that homes are typically selling close to their list price. This can be helpful for sellers in setting realistic expectations for their home’s value and for buyers to understand the market conditions.
Lastly, the Median Sold Price of $369,100 gives an idea of the average price at which homes are selling in the market. This can be useful for both buyers and sellers to understand the current pricing trends and make informed decisions.
According to my Buda November 2024 Residential Housing Market Update, the data suggests a relatively stable market with homes selling close to their list price in a reasonable amount of time. Buyers and sellers can use this information to navigate the real estate market with confidence.
If you would like to know more about what is happening in your particular area, let’s schedule some time to speak. Each market is different and there are micro markets that may provide additional insight. I look forward to discussing what is going on with your area.
